AUDUSD waiting for confirmation
Price trading outside of the acending channel and formed a Head and shoulder recently. The end of AUD bull run is signified by the ending diagonal formed at the top of channel followed by H&S.
Waiting for price to consolidate below the channel moving impulse down to confirm with higer probability.
Alternately if price consolidate and move back into channel (creating a spring) it will try to test the high of the H&S but for this to occur is of lower probability.
Waiting for price to consolidate below the channel moving impulse down to confirm with higer probability.
Alternately if price consolidate and move back into channel (creating a spring) it will try to test the high of the H&S but for this to occur is of lower probability.
Commentaire:
Pattern and bias confirmed. With this much pressure expect support 0.70 to break. Target next support 0.68.